The Willowdale Site is located on the prime south east corner of Yonge Street
and Sheppard Avenue East in Toronto. Sun Life had owned the land for nearly 48 years
and the fifty year land lease was approaching maturity.

What We Have LearnedThe value of the land remained in the in its redevelopment to its highest and
best use. Planning analysis revealed that the three acre site might support approximately
750,000 square feet of density. Section 37 of the Planning Act would permit an additional
250,000 square feet of density at the site through the dedication of community benefits
such as the opening of the Ring Road onto Yonge Street and other community benefits.

Reference"Sun Life sold this property principally because residential condominium development
is not part of the Core Real Estate Investment Plan. Despite this it was Sun Life's goal
to find a buyer who could see the potential of the site in order to unlock current maximum
cash value for Sun Life while believing it could create longer term value for itself. I
must congratulate Pierre and his team for devising and implementing a marketing campaign
that that created excellent market response and resulted in a very successful transaction."